Popular discount voucher and fundraising operation Entertainment Book has been bought by the company that runs the Bartercard exchange service in a deal worth more than $25 million.
BPS Technology, an Australian Securities Exchange-listed company that runs Bartercard and other small business payment systems, says it will pay $22.5 million in cash plus 2.7 million shares to acquire Entertainment Publications Australia and New Zealand, producer of the Entertainment Book and digital membership.
There are 550,000 members in the Entertainment operations, which has relationships with 12,000 small and medium businesses, and 18,000 not-for-profit organisations.
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